PA Governor Proposes Individual State Income Tax Increase


By Jeffrey Wlahofsky

Pennsylvania Governor Ed Rendell proposed an increase in the state personal income tax. Jeff Wlahofksy provides insight into what may happen next.... read more >

FSP FIN 48-d: Application Guidance for Pass-Through Entities and Tax-Exempt Not-for-Profit Entities and Disclosures Modifications for Nonpublic Entities

On May 18, 2009, the Financial Accounting Standards Board released proposed staff position FSP FIN 48-d, Application Guidance for Pass-Through Entities and Tax-Exempt Not-for-Profit Entities and Disclosures Modifications for Nonpublic Entities.... read more >

Deadline Information for FBAR Filing

All U.S. persons that have a financial interest in or signature or other authority over one or more foreign financial accounts with an aggregate value ... read more >

Annuities - Bane or Benefit to Retirement Planning?

Principal protection, availability of guaranteed interest rates, and optional lifetime guaranteed income riders are some of the advantages inherent in a competitive annuity product from a financially strong insurance company.  Is it time to take another look?... read more >

Women on Corporate Boards

Women make up half of the professional workforce.  Yet, women represent a mere 14.8% of board seats of Fortune 500 companies, and 11% of Fortune 1000 companies.... read more >

XBRL is Almost Here


By Charles Oshurak

In December 2008, the Securities and Exchange Commission (SEC) approved the previously proposed rulings that will require public companies to file financial statements in an interactive data analysis format called Extensible Business Reporting Language (XBRL).  ... read more >

Endowments of Not-for-Profit Organizations (FSP FAS 117-1)

In 2006, the Uniform Law Commission (ULC) approved and recommended for enactment in all states the Uniform Prudent Management of Institutional Funds Act ... read more >

Transition to FASB Codification: Are You Ready?


By Mara Bruce

On July 1, U.S. accounting and reporting standards will undergo a major restructuring that hasn't occurred in over 50 years. The FASB Accounting Standards Codification will officially become the single source of authoritative nongovernmental U.S. GAAP. Are you ready?... read more >

The Malware Threat: How Secure Are You?

The use of malicious code (malware) to perpetrate financial fraud has risen at an alarming rate. In December of 2008, Sophos, a leading security software and hardware provider, published its 2009 Annual Security Threat Report. The report’s key finding was that in 2008, the United States surpassed China to become the number one source for malware attacks worldwide. This increase was largely due to the number of malware-infected computers and websites within the United States. [1]... read more >